iA Global Asset Management Inc. Takes $759,000 Position in Aon plc $AON

iA Global Asset Management Inc. purchased a new stake in shares of Aon plc (NYSE:AON) during the 4th quarter, Holdings Channel reports. The fund purchased 2,150 shares of the financial services provider’s stock, valued at approximately $759,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AON. NewEdge Advisors LLC boosted its position in shares of AON by 28.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,704 shares of the financial services provider’s stock worth $5,246,000 after purchasing an additional 3,253 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of AON by 9.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 98,084 shares of the financial services provider’s stock worth $34,992,000 after purchasing an additional 8,216 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of AON by 35.2% in the 2nd quarter. Alliancebernstein L.P. now owns 292,210 shares of the financial services provider’s stock worth $104,249,000 after purchasing an additional 76,061 shares during the last quarter. Diversify Advisory Services LLC boosted its position in shares of AON by 27.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,734 shares of the financial services provider’s stock worth $995,000 after purchasing an additional 583 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of AON by 46.1% in the 2nd quarter. Quantinno Capital Management LP now owns 40,044 shares of the financial services provider’s stock worth $14,286,000 after purchasing an additional 12,631 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AON. TD Cowen restated a “buy” rating on shares of AON in a research report on Monday, March 16th. Cantor Fitzgerald raised their price target on AON from $393.00 to $412.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Bank of America upgraded AON from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $398.00 to $397.00 in a research report on Friday, February 27th. Piper Sandler reduced their price target on AON from $388.00 to $355.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $408.00 price target on shares of AON in a research report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, AON currently has a consensus rating of “Moderate Buy” and an average target price of $397.88.

AON Stock Performance

Shares of AON stock opened at $326.48 on Tuesday. The firm has a market cap of $69.73 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The stock’s 50-day moving average is $322.19 and its 200-day moving average is $335.20. Aon plc has a one year low of $304.59 and a one year high of $381.00. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.95 and a quick ratio of 1.95.

AON (NYSE:AON) last issued its quarterly earnings results on Saturday, May 2nd. The financial services provider reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.37 by $0.11. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.97 billion. AON had a return on equity of 43.50% and a net margin of 22.54%.The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.67 earnings per share. Equities analysts predict that Aon plc will post 19.07 earnings per share for the current fiscal year.

AON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. This is an increase from AON’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, May 1st. AON’s payout ratio is 16.36%.

About AON

Aon plc is a global professional services firm that provides a broad suite of risk, retirement and health solutions to corporations, institutions and individuals. The company operates primarily as an insurance broker and risk adviser, helping clients identify, quantify and transfer risk across property, casualty, cyber and other areas. Aon also offers reinsurance brokerage and capital market solutions that connect insurers, reinsurers and corporate buyers.

In addition to traditional brokerage activities, Aon delivers consulting and outsourcing services in areas such as human capital, benefits, and retirement plan design and administration.